1794 Flowing Hair Silver Dollar: The First Dollar in U.S. Coin History
The 1794 Flowing Hair Silver Dollar holds a special place in numismatic (coin collecting) records, because it became the primary dollar coin minted by the US. Recently, the greatest recognised example of this coin received a sizable upgrade in its grading, making it even extra of a numismatic treasure.
Recent Grading Upgrades
In 1995, this special 1794 dollar was sold in a Stax auction as a brilliant uncontrolled coin. In 2010, it was classified as MS66+ by Professional Coin Gradeing Service (PCGS) and certified by Certified Acceptance Corporation (CAC).
Recently, experts investigated the CAC grading of the coin and certified it as Mint State 67 (MS-67). This means that this is the best living example of the first year of the US dollar.
The coin is now insured for $ 15 million and can be shown publicly for the first time in 30 years in 2025.
Historical Origin
The coin’s origins date back to the 1920s. It was seen by renowned collector Colonel E.H.R. Green, and later by famous mid-20th century type set collector Lelan Rogers.
In 1995, dealer Jay Parrino purchased it for $577,500. The following year, Parrino and his partner Mike Phillips sold it to dealer Chris Napolitano for a Georgia collector who was kept anonymous under the set registry name of “Stellar.”
Owner’s Viewpoint
The current owner has held this coin privately for nearly three decades. Chris Napolitano, who helped negotiate the sale of the coin in 1996, said his client was very pleased with the results of the recent grading, as it confirmed his long-standing belief in the coin’s exceptional quality.
Napolitano emphasized the coin’s importance, stating, “When I first saw this coin at the Stack’s auction in 1995, I thought it was a very important coin in American history.”
Auction Description
This coin was described in a 1995 Stack’s auction as follows:
“1794 Bolender 1. Gem Brilliant Uncirculated. 416.1 grains. A satin gem coin with beautiful toning. Both sides are toned in a beautiful, deep coin silver color, with iridescent champagne and light blue hues around them.
The coin’s areas are perfectly lustrous and satin-like, and the snowflake is almost without signs of manipulation. One is forced to wonder how such a large and heavy coin could have survived 200 years with such satin-like surfaces.”
| Year | Event | Grade | Price | Owner |
|---|---|---|---|---|
| 1995 | Stack’s Auction | Gem Brilliant Uncirculated | $577,500 | Jay Parrino |
| 1996 | Private Sale | – | – | Chris Napolitano’s client |
| 2010 | PCGS Grading | MS66+ | – | Anonymous (“Stellar”) |
| 2025 | CAC Grading | MS-67 | Insured for $15 million | Anonymous (“Stellar”) |
Recent Grading Upgrade of the 1794 Flowing Hair Silver Dollar
The 1794 Flowing Hair Silver Dollar’s MS-67 grading upgrade reflects its unmatched quality and historical significance.
As America’s first dollar coin, this coin not only symbolizes America’s numismatic history, but is also an important part of the country’s numismatic heritage.
FAQs
1. Why is the 1794 Flowing Hair silver dollar worth $15 million?
The 1794 Flowing Hair silver dollar is worth $15 million due to its extreme rarity, historical significance as one of the first U.S. coins, and exceptional condition with an MS-67 grade.
2. What does MS-67 mean in coin grading?
MS-67 is a coin grade indicating “Mint State” with nearly perfect preservation, showing minimal wear, few imperfections, and strong, clear details, making it one of the highest-quality grades.
3. How many 1794 Flowing Hair silver dollars exist?
Fewer than 150 1794 Flowing Hair silver dollars are known to exist, and only a few are in higher grades like MS-67, making them extremely rare and valuable to collectors.